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FOX News
Dec 28, 2012 2:00pm PST
to fix the economy. >> eric: president obama wants tax cuts to expire for everyone except those making under $250,000 a year. john boehner plan "b" making $1 million. this looked like president obama coming back with the same deal at 250. they are miles apart. >> kimberly: you were able to speak to people on the hill. what was your reaction? >> andrea: the president spread the stories that he will come to the table with a deal. swan dive off the fiscal cliff, hold your nose. we're going off. president obama wants to us go off hecht will come back with a largeer plan. the obama tax cut. then he will be able to reintate across-the-board sequestration cuts. 8.2% across the board. cut defense and health. they will be able to reintate a lot of programs and give his caucus the opportunity to say look, i am voting for something. i am voting to restore tax cuts for the middle class. voting to restore great thin things. republicans are in a tough position. no one will say vote to restore the tax cut for rich. this is his game plan from day one. >> eric: what is the a terptive? $250,000 a
FOX News
Dec 29, 2012 6:00pm PST
is. president obama wants tax cuts to expire for everyone except those making $250,000 a year. john boehner's plan "b" was anyone making under $1 million a year. neither seemed to work. it looked like president obottomma was coming back with the same deal, $250. they are miles apart. they are miles apart. >> there is a big divide. andrea, you were able to speak with a number of people on the hill. what reaction are you getting? >> well, the president has spread these stories and people in his administration that he is going to come to the table with a deal. we have been hearing that all week long. that did not happen. swan dive, we're going off the cliff. president obama wants us to go off. he is going to come back with a larger plan, the obama tax cuts. then he will be able to reinstate those across-the-board sequestration cuts to gut things like defense, national institutes of health. he will be able to reinstate a lot of programs and give his caucus the opportunity to say, look, i am voting for something and to restore tax cuts for the middle class. i am voting to restore the gre
FOX News
Dec 28, 2012 11:00pm PST
wanting. >> here's what the deal is. president obama wants tax cuts to expire for everyone except those making $250,000 a year. john boehner's plan "b" was anyone making under $1 million a year. neither seemed to work. it looked like president obottomma was coming back with the same deal, $250. they are miles apart. they are miles apart. >> there is a big divide. andrea, you were able to speak with a number of people on the hill. what reaction are you getting? >> well, the president has spread these stories and people in his administration that he is going to come to the table with a deal. we have been hearing that all week long. that did not happen. swan dive, we're going off the cliff. president obama wants us to go off. he is going to come back with a larger plan, the obama tax cuts. then he will be able to reinstate those across-the-board sequestration cuts to gut things like defense, national institutes of health. he will be able to reinstate a lot of programs and give his caucus the opportunity to say, look, i am voting for something and to restore tax cuts for the middle class. i
FOX Business
Dec 26, 2012 11:00pm EST
. now time for your h comments. writing into their hope barack obama gets all the taxes he wants. i'll bthe first to say i toldd you so when the consequence happens.n t people learn the hard way.n obama never negotiate, he just demands something of complaints. when he doesn't get what he wants. he is far more mature than that, don't you think? we will keep thinking about that. thank you for your comments. we love hearing from you. we love hearing from you. >>> a massive winter storm wreaks havoc bringing blinding snow and devastang tornadoes. at least six are dead, over a thousand flights canceled nationwide stranding holiday travelers and worries things could get worse. welcome, i'm eric bolling in for neil cavuto and this is your world and we're tracking a deadly winter storm as it makes its way towards the east coast. in indiana, heavy snow stranding dozens of vehicles asolkseal with blizzard. a foot in bloming to know. across the south and southst 34 twisters leveled homes. in mississippi for than 25 people injured and 70 homes damaged. that number expected to rise. the storm knock
FOX
Dec 29, 2012 11:00pm EST
thresh finds remain. president obama's original plan called for increasing taxes on families earning more than $250,000 now $400,000 could be a number on the negotiating table. >> the $400,000 level seems to me to be with about right. that represents about the top 1% of income earners in the country and is they got knee% of the growth and there is some flexibility there. >> reporter: the republicans say the u.s. is not facing's revenue problem. >> i feel like i'm a lifeguard and we have to save as many people from drowning and higher taxes as we can. >> reporter: in the weekly address to the nation, president obama urged congress to do something. >> we can't afford a politically self-inflicted wound to our economy. >> reporter: congress will try to find compromise. >> i am still optimistic and i think we can avert this and there is enough common sense to come together and get it solved. >> reporter: a combination will kick in on january 1st. if no deal is made, president obama will press congress to vote on a plan c, one keeping tax cuts in place for most americans. in washington, mi
CNBC
Dec 21, 2012 7:00pm EST
." president obama calls for compromise. he has an urgent plea to extend the tax cuts in the next ten days. he's basically calling for a stopgap bill that will avoid tax hikes on 98% of americans. he's willing to waiten o the rest. >>> meanwhile, stocks had a fiscal cliff selloff. but even a deal in january for the cliff is going to be all right if you ask me. and today's economic numbers pretty darn good. and the gun control debate heats up again today after a controversial nra news conference in washington. the "kudlow report" begins right now. >>> all right. let's first look at the market reaction to this fiscal cliff stuff. jackie joins us with the details. good evening, jackie. >> good evening to you, larry. while markets finished lower on the day, they were higher on the week. the dow up about .5%, the nasdaq higher by 1.7%, and the s&p 500 up by roughly 1.2% over the last five days. meantime in terms of sector performance, the financials, they had a rough day. the plan "b" proposal for the fiscal cliff. up more than 3% for the week. also technology and materials they finished l
FOX News
Dec 26, 2012 2:00pm PST
obama says republicans look at this. tax cuts for everyone making under 250. can republicans say no to tax cut in 2013? >> andrea: it will be tough. not tougher than the p.r. battle they are fighting now. i think he wants that scenario, eric. i think obama thinks going off the cliff is a win for him so he can pass the obama tax cut and say look, i'm bringing in revenue. i lowered the deficit. pass his tax cut. a win and he can blame the g.o.p. i would argue i don't think the g.o.p. had the ball on this fight. i don't think they gave it up. i don't think they had it. it's very tough for them to win against the white house like this. and a white house press corps that is not going to report anything negative against the president. >> eric: the ball is a debt ceiling. remember, all the negotiations, tell you, i'll get to greg, they have to go through the house. money negotiations go through the house. if the house says no on raising debt ceiling they can create havoc. go ahead. >> greg: i don't care anymore. >> kimberly: okay. you did last week? >> greg: as a human being in this discussio
FOX News
Dec 26, 2012 9:00pm PST
split within the party how to approach this. obama got to go on vacation in hawaii. >> eric: taxes revert to the bush tax cut expire and president obama says republicans look at this. tax cuts for everyone making under 250. can republicans say no to tax cut in 2013? >> andrea: it will be tough. not tougher than the p.r. battle they are fighting now. i think he wants that scenario, eric. i think obama thinks going off the cliff is a win for him so he can pass the obama tax cut and say look, i'm bringing in revenue. i lowered the deficit. pass his tax cut. a win and he can blame the g.o.p. i would argue i don't think the g.o.p. had the ball on this fight. i don't think they gave it up. i don't think they had it. it's very tough for them to win against the white house like this. and a white house press corps that is not going to report anything negative against the president. >> eric: the ball is a debt ceiling. remember, all the negotiations, tell you, i'll get to greg, they have to go through the house. money negotiations go through the house. if the house says no on raising debt ce
FOX News
Dec 26, 2012 1:00pm PST
boehner said to obama, quote, i put $800 billion in tax revenue on the table. what do i get for that? allegedly we understand president obama came back to him and said, you get nothing. i get that for free. you get nothing. >> there were a couple eye-opening quotes. a "wall street journal" story before christmas that went through the timeline of how this happened between painer and the president -- boehner and the president. boehner put the rough knee on the table and the president saying that's what i get out of the gate. you get nothing for that, which was a surprise to the speaker. he said if we go over the cliff, that the president threatened boehner, he said i will use my inaugural address to blame you for tax increases and for the fiscal cliff going overboard. that brings out pretty big guns when it comes to a president's bully pulpit. if atlantes to use that to play politics, that's significant. >> i have to bring this up. but how did they get to the point where the speaker tried to bring a vote to his caucus to be rejected? how did they not see that coming in why did he bothe
FOX News
Dec 27, 2012 11:00pm PST
ask first for members to reconvene on sunday. we can go off the cliff. pass the obama tax cut and reinstate the sequester cuts to things like he likes like the national institute of health and cut the defense budget. put republicans in the corner to say you want to bring a bill to the floor? be my guest. am i right? >> bob: my, you are cynical. keep in mind, they said, boehner said he wants to go to the senate. under the constitution, you cannot start a bill on taxes in the senate. has to come from the house. there is a 48-hour limit because you have to have the house of representatives look at it. i think the deal is cut. they will get legislation and vote on it late monday night. >> andrea: do you think a deal is cut? i talk to people and they say no deal. >> eric: there is no deal. they are saying no deal. president obama coming back to d.c. to fix what he broke in the first place. two solid years to deal with it. this is a gimmick, the flying back from hawaii to do this. nothing going over the fiscal cliff. let the tax cut expire. come back in, offer the tax cuts for people un
FOX News
Dec 22, 2012 3:00pm PST
challenge from the right if he supports a tax increase. i think president obama is doing the only sane thing he can, which is reach out to the speaker and he controls the house and, that is -- and the good news for the president is the public seems by all the polls, by the fact the election came out the way it did, to be in his corner, not the speaker's. >> rick: the president -- you want to weigh in on that? >> i just -- >> rick: americans are in favor of raising taxes on the wealthiest americans and, the president did win, november 6th. >> we have seen polls that say that, they approve tax reform and want to see real entitlement reform and want to get spending under control. but, president obama has failed to bring anything up to the -- on the table, and, especially the democrats, they have been silently on entitlement reform and silent on the spending cuts and as we know, we can talk about raising taxes on the rich. but, you know, it is like having a dad with a college daughter and they need to cut up the credit cards if they are spending too much. you have to cut the spending in or
CNN
Dec 28, 2012 1:00am PST
. and more americans on the tax rolls. how we get there, god only knows. >> president obama, meantime, seemed to lose patience. no sign he's eager to go off the cliff, but he's also not ready, either, to concede more to get, in his words, what he'll get for free when the bush tax cuts expire tuesday morning. democratic lawmakers, though, are more willing to let that and everything else happen and both sides are still pointing fingers. take a look at senate minority leader mitch mcconnell and majority leader harry reid just this afternoon. >> you'll excuse me if i'm a little frustrated at the situation. >> republican leader finds himself frustrated. >> i say i'm a little frustrated because we've been asking the president and the democrats to work with us. >> he complains i have not delivered the votes to pass the solution to the fiscal cliff. but he's in error. >> i told the president i would be happy to look at whatever he proposes. >> he's upset because, quote, the phone never rang. >> as i said, this is a conversation we should have had months ago. >> we have nobody to work with, to
CNN
Dec 27, 2012 10:00pm PST
signed by president obama. the idea being to make it so painful not to cut a deal on taxes and spending that they would be forced to cut a deal on taxes and spending. except keeping them honest, they haven't done it. even though they knew the stakes, they knew the deadline, and both sides promised that this time things would be different. >> we need to return to fiscal responsibility. >> how is it that we're going to be able to do that? getting our fiscal house in order. >> the american people have spoken loudly. they want us to get our fiscal house in order. >> fiscal handcuffs on this congress that are sorely needed. >> washington is beginning to get its fiscal house in order. >> so they approve legislation that gave everyone nearly a year and a half to reach a long-term agreement on spending and taxes or face truly punishing consequences if they didn't. you'll remember at the time this was a really big deal. republicans had forced the issue by refusing to raise the debt ceiling without budget cuts. markets went haywire. congresswoman gabby giffords even returned to washington from re
CNN
Dec 27, 2012 7:00pm PST
become the obama tax cuts, right? i think that's what conservatives and republicans should be most worried about from a long-term political perspective right now. i mean, in a sense, they have sort of -- they have won a particular policy battle in the sense that most of the bush tax cuts, both parties believe should be extended. right? we're talking about 97%, 98% of the bush tax cuts. you could say that's a policy win for republicans, but if those tax cuts ended up getting branded as obama's tax cuts that he passed after we went over the fiscal cliff, it then loses whatever upside there was for republicans, except, and we have to mention this, for republicans vulnerable to primary challenges, there's obviously a lot of anxiety about being, you know, the first republican in 20 years to vote for a tax increase. i think that's the big fear, that it's been so long. republicans haven't cast this kind of vote. you don't want to be the first one to do it. >> yeah, and charles, we're told the democrats may be waiting until the very last minute. maybe they're banking on pressure and the go
FOX Business
Dec 28, 2012 5:00pm EST
avoid calamity and doom and gloom or apocalypse. >> i'm less optimistic. whether it is obama's tax increase, whether we get obama's tax increase tomorrow or get it a month from now the net result is still the same. we're going to have a less competitive economy because of what is coming out of washington. adam: chime in, rick said, nah why do you say that? >> you will get a tax increase. i think number will be closer to 500,000 before we're done. certainly closer than 250,000. this is, i don't know, for years i've had to listen to this, it is going to hurt our economy if we raise taxes on the top 2%. there are many things happening that can hurt our economy. the fact we're having this conversation two or three days before the end of the year is hurtings our economy. adam: but we've seen that. >> raising taxes isn't going to be it. adam: let me bring dan back in here. dan, i want to ask you, raising taxes only raises $80 billion at best in a budget almost a trillion dollars over budget. so what do you to fix that problem? >> all we have to do to balance the budget in 10 years limit the growt
MSNBC
Dec 29, 2012 2:00am PST
the red room, president obama held firm for tax cuts for families making up to $250,000 per year, and joining me on the north lawn of the white house is kristen welker. kristen, let's listen to what the president said about and up or down vote or what he expects from the senate. >> i had a good and constructive discussion here with the leadership about this tax hike on the middle-class. i am optimistic that we can reach an agreement that will be passed in both houses. if an agreement is not reached in time between senator reid and senator mcconnell, then i will urge senator reid to bring to the floor and up or down vote for the floor, and i believe a p proposal could pass both houses with majorities as long as the leaders allow it to actually come to a vote. if members of the house or the senate want to vote no, they can. but we should let everybody vote. >> kristen, this up or down vote seems to be be the big news of the day, and isn't this what the white house wanted all along? >> well, it is. it is prp's way of saying, look, vote on his basic proposal, the proposal that will extend
FOX News
Dec 29, 2012 10:00am PST
be hammered out shall the threshold for extending the push tax cuts and president obama campaigned and sounds like, 400,000 may be where they're heading. a leader says that permanency is key, and fixing the death tax and a permanent solution for the alternative minimum tax which threatens 28 million americans every year, would also help win republican support, heather. >> mike emanuel reporting from washington with the latest, thank you, mike. >> kelly: heather and mike, thank you very much. and president obama trying to light a fire under congressional lawmakers, urging them to come up with a deal after friday's bipartisan white house summit. >> we're now at the last minute. and the the american people are not going to have any patience for a politically self-inflicted wound to our economy. >> kelly: so the question becomes, why can't washington seem to work this out? why has it taken so long when they knew they had this fiscal cliff coming to them? joining me now for a fair and balanced debate on the topic, angela mcglowan is with us, and mark hanna, a strategist and former aide
MSNBC
Dec 26, 2012 11:00am PST
extending the bush tax cuts, but the obama tax cuts. president obama is associated with cutting taxes. there is political liability for them as well. the reality is they have to get off of this no tax increase nonsense. i read in the "new york times" the other day, no republican member of congress voted for it since 1990. do you believe that? we had two or three wars since that time? a tragedy at 9/11 and we had hurricane sandy. we had hurricane katrina and despite all of these, they are unwilling to raise them to support and fund our government. what does it say about the dysfunctionality? >> we will have to leave it there. happy holidays to you. joining me now on the phone, congressman gregory meeks. congressman, i just saw you downstairs in the lobby about two or three hours ago and you were waiting on a phone call to determine when you might have to go back to d.c. to hammer out fiscal cliff matters. have you gotten the call yet? >> we are still waiting. >> no word as to when you guys are going back? no sense of urgency? >> i think there is a sense of urgencey and we have to have a deal.
ABC
Dec 23, 2012 11:35pm EST
for the millionaire's tax, it will be very, very hard to see how we can get president obama to cut taxes for the $50,000 and below. -- $25078,000 level and below. -- $250,000 level. it does raise questions on his own position as house speaker. so many questions in the days ahead. it duds not -- does not look very optimistic. they did not fill us with holiday cheer. president obama when he spoke friday evening before he left to hawaii looked tired of the whole process. he'll be back mid next week as will congress. so they'll have a few days to get their acts together to come together on a smaller bill. it does not look like we're going to see anything large, the big deal at this point. we're looking at a scalled down measure if anything and it's not even clear that that will pass. >> kicking the can down the road. >> rachel, thank you so much for being here. >> thank you. >> all right. coming up -- there's a bar inside a local clothing shop. not sure what video that is. but we'll be right back. >> we want to tell you >> russia is taking drastic steps to prevent americans from don'ti
FOX News
Dec 27, 2012 6:00pm PST
security is going bankrupt, as is medicare, and all obama is fighting for is increasing taxes that will only pay for 8 1/2 days of government spending. now president obama has not been a leader on this. he's not been serious. he's been acting weak and, of course, clinging to his radical ideology. enough is enough. maybe it's time to have the republicans call the president's bluff. let him take the country over the fiscal cliff if he so chews. republicans were elected to get the fiscal house in order. maybe it's time to stand up for your kids, your grandchildren. maybe they should dig in their heels and say they are looking out for the future and future generations. maybe now is is a time to take a principle stand and say they are not going to let washington continue with the out of control spending, the debts and deficit. maybe now at this moment maybe that's the right thing to do. joining me now with reaction to the developing steer are congressman loui gomert and -- go ahead. >> i can totally with him that he cannot imagine our consciouses in the house because you would have to have o
FOX
Dec 30, 2012 9:00am EST
will introduce, ar te the obama tax cuts and he proposes to relower the rates -- >> if they don't do something the taxes go up for everybody. >> yes. and the president proposes relowering them to somewhere near bush rates for everybody under 250 and the republicans don't want to be in a position of stopping that. >> chris: but why, byron, were they unable to do anything about the real problem? i mean -- if you take the amount 0 -- say, 400,000, it would be $600 billion increase in revenue to the government, over the next ten years. $600 billion, in terms of a deficit of $16 trillion, going up, by another 2.5, $3 trillion in the next ten years is peanuts. >> you heard lindsay graham talk about entitlement reform and the debt ceiling issue but if you look at -- among democrats, especially, further to the left, since the election, their feeling has been, president obama won, we will not take this out of seniors, we will not take it out of medicare, we will not take it out of social security. no cuts, and those things and that position has hardened, i think on the left in the past couple
FOX News
Dec 28, 2012 6:00pm PST
hike january 1, cuts, gives back $3 trillion of it and the bush tax cuts then become the obama tax cuts and he seems like the guy that is the tax cutter in all of this and this is a strategy, a plan from the very beginning. >> i don't think that is going to happen. i think the key is whether boehner uses the hastert bill which was to never put a bill forward that the majority in the party is not going to vote for. if he will put the hastert rule aside and give republicans a path to vote no that allows the president and the democrats to add their votes where the minority of republicans to pass this thing and i think bill cunningham is right about how this may well play out. i don't think the president want -- the president does not want to go over the cliff. the last thing he needs right now is to -- is to risk going into a second recession. the first one he can blame on push and democrats and i'm there with him. the second one will be his and on his watch. >> sean: there has been a bill in the united states senate that extends the bush tax cuts for everybody and he could at least -- the
CNBC
Dec 28, 2012 4:00pm EST
challenges that you have is obama, when he ran for office four years ago, said he'd never raise taxes on anyone who made less than $200,000, married people less than $250,000, but the new pledge made in 2012 said that his plan, this was august 8th, and since then, obama says my plan is that if you make less than $200,000 you'll see no income tax increase next year, so obama's new commitment is only the income tax, only for one year. >> right. >> and, of course, we're all paying higher taxes in january because of obama care. >> okay. >> taxes on capital gains. >> let me ask you this though, grover. i can imagine you wear it as a badge of honor to this the senate majority leader on the floor of the senate invoking your name in frustration because there are people on the republican side who are, you know, following your -- your lead to not raise taxes, but let's face it. you were in -- you were imposing this no higher tax in a different era, at a different time, in a different part of the economic cycle. aren't we at a point now economically where there has to be some mechanism of revenue r
CNN
Dec 29, 2012 10:00am PST
have to add both the obama care tax that's coming and the tax -- the disappearing bush tax increase. >> right. >> and this hits primarily, as you know, small business owners and people who file subchapter-s corporations. >> not primarily. it hits some of those people. >> well, over half of all the small business income that gets -- ends up paying this higher rate, if you do it, and the last time we did this, more than two-thirds of the people who got hit were the subchapter-s corporation. i think it would have a very significant effect. but mostly the other effect it has is that we're not cutting spending because we're spending too much money. and that sends a very bad signal. if we're not going to do entitlement reform, because every time we talk about it obama says, no, let's raise taxes instead, now we're dealing with tens of trillions of dollars of unfunded liabilities that were not -- for four years obama's done nothing on entitlement reform. nothing, nothing, nothing, for four years. a lot of golf. nothing on entitlement reform. what has he done? chirped about raising taxes on
FOX News
Dec 27, 2012 3:00am PST
obama tax increases are more likely to lose revenue rather than to gain revenue. for example -- >> clayton: we know what happened with president george h.w. bush, read my lips, no new tax and ended up going forward with some of those tax increases to part of the negotiation and democrats didn't come forward with entitlement cuts that were enough to actually counteract some of those tax increases. could we be seeing the exact same thing today? >> well, yes. for example, one big tax increase in the obama tax increase package is the capital gains tax rate is going to go up 58% on the higher income taxpayers. and so now in the last 50 years, every time the capital gains tax rate has been raised, capital gains revenues have declined rather than increased. and every time the capital gains tax rate has been cut, capital gains revenues increased rather than declined. and cbo has gotten it wrong every time over 50 years. and so whether you're deal -- what you're doing with obama is not just the expiration of the bush tax cuts, but obama tax goes into effect as well. the cap gains rate
FOX News
Dec 30, 2012 11:00am PST
are the obama tax cuts in which he proposes to relower the rate on everybody. >> chris: but you if they don't do anything the taxes go up for everybody. >> and the president proposes relowerring them back to rates for are everybody under 250 and republicans don't want to be in a bulldogs o position of stopp. >> chris: why were they unable to do anything about stopping real problem?lem fo if you take the amount raised. $600 billion increase in revenue to the government over the next ten years. $600 billion in terms of a deficit of $16 trillion going up by another 2.5, $3 trillion in the next ten years is peanuts. >> you heard lindsey graham talk about entitlement reform and that is what republicans want to press and a debt ceiling issue. if you look at sentiment among democrats especially further to the left since the election their feeling has been president obama won and we will not take this out of seniors and we will not take this out of medicare or social security. no cuts in those things. that position has hardened i think on the left in the past couple of months. >> chris: ki
FOX Business
Dec 26, 2012 9:00pm EST
the tax increases to pay for obamacare were convenient postponed until after obama got himself safely reelected. they begin to hit january 1 of this coming year. they are unpleasant. gerri: absolutely unpleasant. it is a disincentive to invest into work. i don't know what people are going to do down the road. now it seems that people are saying it's up to the senate. it in the senate ballpark now to do something and to get some kind of bill. will they do anything at all? >> all the focus has been on president obama and the house of representatives. the leader, speaker boehner. some of us went to public school, but i still learned that there is a senate involved in all of this. [laughter] for the last three years no one has been talking by the united states senate. gerri: it's like they're under some witness protection program. they don't do a budget. they don't write a budget, they don't vote on the budget. the republins took them into putting obama's budget out and then they voted against it. they haven't put together a budget because they cannot reelect the democrat majority
FOX Business
Dec 26, 2012 6:00pm EST
position as being in favor of obama and his taxes and spending. gerri: i don't understand why people aren't marching on the hill. i really don't. this is what we hired them for, to iron out these differences, and no one is doing the job. let's take a look at the numbers for folks that are married. if you make $50,000 per year, you'll pay an additional $2000 in taxes. if you pay $100,000, an additional $446 in taxes. the list goes on. you make it to make a million dollars, an additional $50,000 in taxes. this will cause people to reinvent the way they lived day-to-day. i don't see why people are upset about this. they should be. but all of the tax cut that you just mentioned, it is due to the disappearance of the bush tax cuts. the democrats all voted against the bush tax cuts. so they voted to keep those tax increases, not next year, but for the previous 12 years. so you have a very big fight in washington. the democrats have opposed the bush tax cuts, call them names, said they were for rich people, now that they are about to disappear, they are running for the hills. because they k
CNN
Dec 24, 2012 4:00am PST
, which saves money. the president wants to end that. and the third part is $1 trillion in obama's taxes. that's the obama care taxes they hid from you because they're all scheduled to come in after he got safely elected. >> let's go back to the bush-era tax cuts. for you, given your position, that's really what we want to focus on here. you make the point that democrats could have voted before when they had super majorities or big majoritiemajo and that's a fair point. but in part thanks to you, voting for tax increases is a political death for republicans and democrats. that brings me to my next question. i've talked to republicans and democrats who think we are going to go off the cliff, and here's the reason why. if we go off the cliff, everybody's taxes go up automatically. then congress can come back in january and vote for a tax cut as opposed to tax increases. what do you think about that? >> one of the challenges, of course, is people see this happening. they realize the president has not been negotiating at all over the past three months. we learned days and weeks and months afterwards
MSNBC
Dec 26, 2012 9:00pm PST
obama's latest offer to john boehner has 1.2 trillion in taxes. that is half as much, less than half than simpson bowles, and less than a quarter of what is in -- simply going over the fiscal cliff. i think the tax increases are too little. they are what they are. and it's something to remember as we reach the edge and you hear a lot of complaints about the tax side of obama's offer. what he's asking for in terms of tax increases is not that radical, it's way less than if we don't reach a deal. contrary to what you may have heard, republicans want to raise taxes too. shocker, right? >> the superficial take on this, the argument between democrats and republicans is between democrats who love taxes, just want to tax everything. and republicans who totally grover norquist taxes, they hate them, that is not true. to a degree that kind of disturbs me, actually, the two parties mostly agree on keeping the bush tax cuts. up to $250,000 in income, which is a lot of income. republicans and democrats want to keep all the bush tax cuts. that's way more than 80% of all the bush tax cuts. they agree o
ABC
Dec 23, 2012 9:00am EST
series of tax increases to pay for obama care that start january 2nd. the president is taking those off the table. this is not part of the sequester or the fiscal cliff. this is a trillion dollar tax increase over the next decade that just hit. so there's a $20 billion to $30 billion over the next 10 year tax on medical devices that make stents of prosthetic devices -- >> all signed foo law by the president. >> law of the land, 90% of the tax increases to pay for obama care conveniently interestingly took effect, begin to take effect after the president got himself safely re-elected. if you're a poor person and have 7 1/2% of your adjustable gross income used up in medical costs, the president decided the democrats in congress voted to take that -- >> i get your point -- >> average americans who are very sick pay $2 billion to $3 billion more in taxes to pay for obama care. these are tax increases on the middle class, put there by obama. he wants you to talk about taxing the rich as he's busy socking it to the middle class? a luxury of a debate that washington may have, that folks l
ABC
Dec 23, 2012 8:00am PST
president. >> the law of the land, 90% of the tax increases to pay for obama care conveniently, interestingly took effect, begin to take effect after the president got himself safely re-elected. if you're a poor person and you get sick, and you have 7 1/2% of your adjustable gross income used up in medical costs, the president decided, the democrats in congress voted, to take that -- >> i get your point -- >> average americans who are very sick are paying $2 billion to $3 billion more in taxes to pay for obama care. these are tax increases on the middle class put there by obama. he wants you to talk about taxing the rich as he's busy socking it to the middle class. >> i'm sorry. there is a luxury of a debate that washington may have, that folks like me on the ground in cities all across america don't have. i've got to balance a budget. but what we've had to do in newark is cut our workforce almost 25% and cut government spending almost 22 but we've had to raise taxes as well because it's a pragmatic way forward. but this is what i learned in newark. if you start cutting program
FOX Business
Dec 29, 2012 4:00am EST
problem in 2013 and 2014, but i do think it's obama's economy now. the republicans passed the tax cuts for one group, let's say all the way through, not the very top group, i don't know where that negotiation is going to come out, but if they do that, i think that they will be held blameless for the economy. lou: as we wrap up here, i would like to ask you a question this way. because i said last year that i felt strongly at the beginning of the campaign. the democrats were the republican -- the democrats or the republicans, which party led the discussion to the enduring that of the middle class sure enough, president obama shifted to a middle-class message that resonated, if only at the margin that was sufficient for victory. are the republicans learned anything here? are they going to start talking about working men and women? working class and the american dream. >> i think they are. i think the presidential race was a real problem. because it was never growth. it was always about this and that and detail. romney wasn't the issue. the issue was obama. it was the worst single re
ABC
Dec 28, 2012 6:30am EST
sticking point here. republicans fundamentally don't want to raise taxes on anyone but president obama is hoping that the bush tax cuts will beextended except for those making $250,000 or more and republicans say no way. clearly both sides are not coming together on anything any time soon. >> all right and the beat goes on. sandra endo in dc thanks so much for the time. >>> news time is #:32. -- 6:32. the debate over whether teachers should be able to bring guns to school got more heated. 200 teachers from utah packed the conference room and learned how to carry a concealed weapon on the job. and how to protect their schools from an armed intruder. >> the safety is the biggest part. and to be able to use them appropriately is really high priority for me. >> utah is one of the few states where public schools allow guns on campus advocates argue that just having guns at the school might be enough to keep the criminals away and some teachers in utah want more gun training. organizers are planning another class for the next holiday break. >>> this story is just despicable. fbi arrested a n
KOFY
Dec 29, 2012 9:00pm PST
republicans are bargain to go dodge the fiscal cliff. if a deal is note struck, tax hikes and budget cuts will kick in. it seems unlikely they can write a comprehensive budget bill in time. they are thinking of a fall back plan. >> president obama is urging congress to focus. >> i'm optimistic that an agreement can be achieved. >> at the white house friday the president and congressional leaders spent some 70 minutes in a negotiating session and agreed to keep talking. >> it was constructive. >> it was constructive. >> i'm hopeful and optimistic. >> as snow fell on mostly deserted washington, two sides continued bargaining. if there some on deal, president obama wants smaller bill extending tax cuts making $250,000 or less and continuing unemployment benefits for millions that will lose them. >> i believe such a proposal could pass both houses with bipartisan majorities as long as these leaders allow it to come to a vote. >> we can still avoid going over the fiscal cliff if the president and democratically controlled senate step forward to solve this problem and solve it now. >> frus
KRON
Dec 27, 2012 11:00pm PST
lawmakers are going to be able to cut taxes. elisabeth corridon.. awarding. >> both obama and the senate returned to washington today after a christmas break. house leaders announced the chamber would reconvene sunday and possibly stay in session until a new congress is sworn in january third. someone hacked into her the san francisco muni service will be free this friday to celebrate muni's 100 years of service. and 100 years of customer support. all buses.including light rail lines and cable cars will be free from 5 a-m friday through 5 a-m saturday muni officials initially considered charging a five cent fare.the price riders paid a century ago. but ride free instead. muni service will also be between 8 p.m. monday through 6 a.m. tuesday. >> jacqueline: it was dry but the rain fall overturns. with mostly clear skies and colder temperatures. for rainfall-will return clouds increasing. the lingering towards a saturday. as we take a look on futurecast we already see the increase with clouds but the revolt was not arrive until later here comes the cold front by 6:00 on friday it will push
KCSMMHZ
Dec 26, 2012 6:00am PST
budget cuts and tax increases. obama is scheduled to return to washington on thursday in time to restart talks. the u.s. president is asking congressional executives to compile a compromise plan that features continued tax cuts for the middle class. that represents a shift in his policy that called for higher taxes on the wealthy, along with measures to cut the fiscal deficit. talks between democrats and republicans came to a standstill last week. a deal still remains uncertain. the republicans canceled a vote on their compromise plan. that's because many republicans remain opposed to any kind of tax hikes. >>> china has opened what it calls the world's longest high-speed rail line. the railway links the capital city of beijing and ghangzhou in the south. shun ishibe have more. >> reporter: the first high-speed train for beijing is about to leave guangzhou south railway station. many passengers are carrying coats, because the temperature in beijing is about 20 degrees centigrade lower than here in guangzhou. the new line stretches nearly 2,300 kilometers, including a section alre
FOX News
Dec 23, 2012 7:00am PST
they're not going to vote for something that raises taxes and that puts president obama and house republicans at loggerhead. >> i'm listening to what you say about the republicans and they have changed the limits, willing to accept higher taxes on certain taxpayers. further than they had gone previously. and the president, do you think it's an all or nothing proposition or -- he had said there was wiggle room last weekend. >> he did but i don't know what that wiggle room is because as you mentioned, speaker boehner, who is not one of those people who is standing there promising to not raise taxes on anyone, he's in the middle, trying to negotiate it. he's worked very hard. he came up with proposals that democrats sported -- supported two and four years ago. he put forth a proposal that was identical to one that nancy pelosi had suggested back when it was her idea. and the president just simply dismissed it out of hand. he said raising taxes on only people mdking $1 million or more a year isn't going to cut it. and so i don't really -- i don't see how, given the things that harry r
LINKTV
Dec 29, 2012 2:00pm PST
with obama's campaign pledge to raise taxes on the wealthiest 2% of taxpayers ought. it is a condition that so far is unacceptable to republicans want to extend current tax breaks regardless of income. the pressure will be elements of the house republicans to follow through. at this point, it is an open question. >>> at least six people in pakistan have been killed, dozens injured in an explosion in karachi. it ripped apart a bus parked on the road and a hotel was also damaged. they're still no word on what caused the explosion. the police say a bomb was planted on the boss. another boat -- as it was planted on the bus, but another official said it was on a motorbike. >>> videos released follow several high-profile taliban attacks in the northern cities. the detonations envoy to syria has warned the country's crisis will go one of two ways, to help or a constructive political process. they say that the neighboring countries will not be to take many more refugees. they were speaking in moscow to the russian foreign minister. >> object of everybody who is acting in a responsible manner i
CNN
Dec 28, 2012 2:00am PST
just voting to reinstate a tax cut, that then it sort of president obama's tax cut so he gets credit for that. >> do you have any sense of what will happen around that table today? who called the meeting if there's an agenda or are they going to sit around and stare at each other until one of them blinks? >> we don't have a sense. i'm sure that we will be getting a sense. this is supposed to take place at 3:00 p.m. at the white house. the vice president, president and four top congressional leaders. we don't know what will be said. i think we will likely hear from some camps afterwards. >> if you are wondering what a trip down the fiscal cliff might mean for your paycheck, for your 401(k), look no further than yesterday's dow. at the opening bell, a dive of more than 1%. investors finding little hope for the fiscal cliff compromise on capitol hill. when word came down two sides might be meeting. reversal of fortune. the dow rebounding for a while before finishing slightly lower. >>> a nation this morning remembering the american general credited with orchestrating one of the most lop
FOX News
Dec 30, 2012 12:00am PST
. because nobody knows what will happen, obama care taxes are kicking in next year, unavoidable. a whole host of other taxes are i can cking in that are unavoidable. to plan for even something worse is difficult right now when you really don't know what other taxes are coming. that's the real problem. we don't know what else is in store. the other thing is, one of the other problems with the president is his economic literacy has never been very high. i think that scares -- >> what do you mean by that, his economic literacy? i mean i think i know, but i just want to -- >> lits -- listen, the president is a smart man. he wept to some good colleges, but when it comes to the economy, listen. much makes no sense. i'm talking democrat, republican, he says stuff -- this is just based on what he says, what he says affects prices. what he says about the need to raise taxes on the upper income like that will be good for the economy. that will not be good for the economy. if you are making 250 and you are a small business you are employing people and paying taxes and workers compensation insurance
CBS
Dec 29, 2012 11:00pm EST
that the rich pay more taxes. obama insists his plan on the table is fair and includes plenty of cuts to government spending. >> we just can't afford a politically self-inflicted wound to our economy. >> reporter: if sunday's negotiations don't pan out, the president says he is ready to propose his own scaled down bill that would block tax increases on all but the wealthy and preserve expiring unemployment benefits. with the deficit ticking ever higher, patience is wearing thin. >> for those of us that invest in the stock market it's disgusting to watch them jockey around with our money, because it gets affected every day. >> reporter: missing in all the last-minute negotiations is talk of the $1.2 trillion in mandatory spending cuts scheduled to go into effect on tuesday. the u.s. will also hit its borrowing limit on monday make it difficult for the government to pay its bills. >>> meanwhile, an elderly woman is cammed fast moving fire that left two others hurt. tonight fire investigators say the woman may have gone back in the burning town house to warn the others. the fire swept th
FOX Business
Dec 23, 2012 2:00am EST
to lay off you have the man date tax and companies pulling back on insurance because of obama care. that hits a doubley for the middle class and they have to buy their own insurance and pay if they don't get it >> bottom line with the hobby lobby it is a private company but if they care about their beliefs and totally disagree with what the health care law is forcing them to cover . that's why they may go out of business. if they have to pay the fines, it will hurt the bottom line terribly. >> david obama care was not designed to save money. it need said a huge tax increase to fund it it is it a path of socialized medicine and all of the destruction and that is why unions and companis and employees are trying to optout of it it was a lousy piece of. that is truven to be terrible. that's what obama cares about. rick's good friend to bey cross grove was saying in the wall street journal. probably what it will lead to is a singer payer rule of socialized medicine. >> absolutely. i don't doubt it >> rich? >> i don't doubthat for a minute. obama care is doing and paralyzing growth among
CNBC
Dec 28, 2012 6:00am EST
new book. let's write a new book. by the way, those are now going to be called the obama tax cuts. i'm calling it first. the obama tax cuts. he's going to write a tax cut bill, send it up to the hill, and they're going to pass it. >> expires on january 2nd. >> do we make them permanent, jimmy? 98% of them will be made permanent? >> i hope not. that is not the job of the government. the government's job is to raise taxes and to lower taxes when our economy needs it. that's what the senate does. john breaux, former senator john breaux from louisiana sat on the floor during the 2001 tax bill and said our job is to raise taxes when they need to be raised and lower them when they need to be lowered. that's the senate and the house's job. >> but, one man's -- is another man's -- if you look at the laugher curve you don't know when to raise and when to lower at this point. >> president obama kept bush's taxes in for two years. >> i know. >> but suddenly, you know, democrats like you love the 98%, and you hate the 2%. it's very weird. >> tell him, joe. >> don't hate the 2%. i'm not a self
CNN
Dec 27, 2012 4:00am PST
fiscal cliff package that president obama laid out on friday, which moved the tax hike needle to $400,000. no word yet on when the house of representatives might come back, but democrats say the only hope we have of something getting through the house, the senate and the white house may be a very last-minute deal. cnn radio's lisa is following developments on capitol hill right now. the ball is in senate majority leader harry reid's court it would seem right now, lisa. >> that's right. harry reid and the senate seem to be the only game in town right now with the senate returning today. we also know from sources, ali, that over this christmas break there were no conversations between the president and top-level republicans. sources from both parties are telling us they are watching the senate, especially the democratic leadership in the senate. we also know yesterday house republicans came out with a statement saying that he will act only after the u.s. senate acts. we're not sure what the senate will do, as you say, we're expecting that smaller deal. what exactly will they vote o
MSNBC
Dec 28, 2012 2:00am PST
. . >>> right now on first look -- d-day for president obama and congressional leaders. automatic tax cuts and smaller paychecks hang in the balance. american military hero, four-star general known as stormin' norman schwarzkopf has died. >>> a fiscal milk cliff is looming. bears over the bruins in the holiday bowl. >>> good morning, even as the finger pointing continues on capitol hill this morning, new hope on a deal to avoid that fiscal cliff. president obama will be meeting with congressional leaders later today. danielle leigh joins us. >> that meeting in many ways a last opportunity for the president and congressional leaders to reach a deal and get something done before this year is over. if this meeting is unsuccessful it could seal this country's fate, as some developments yesterday. house members no longer on stand by. ready to come back sunday. to take a vote. when these tax cuts expire just about every worker is going to see their paycheck reduced. it's going to eliminate unemployment extensions and initiate spending cuts across the board. >> how will people see this in th
FOX News
Dec 24, 2012 10:00am PST
rates will be replaced by the obama tax rates. so he knows he's in a better position than they are. the question is as the clock ticks down and markets become anxious and capital becomes scarce and people are worried about what's going to happen out there, that the president has to think as much as he'd be better off then -- and, certainly, senator barrasso makes a good point about that -- the president's going to have some gut-check moments while he's out on the golf course and looking at the blue pacific, he's going to have to think can his second-term presidency really begin in the midst of a recession, and is he going to be okay with that? gregg: all right, so the clock is ticking, but there's another clock we're keeping a close eye on. i mean, we're talking about the debt clock. look at that, $16.3 trillion and growing second by second. and the president instead of focusing on cuts, he actually demanded even more spending, new stimulus, additional spending. maybe he doesn't think that $16 trillion is a real problem even though you talk to any economists, chris, and they're going to
CNBC
Dec 27, 2012 5:00pm EST
each party to go over? because then obama gets the tax increase that he wanted, right? the republicans aren't seen by their constituency of giving into the tax increase and then they start from there, anew, and you can bring it down to the middle class tax cut. so, why isn't that the way it's going to be playing out and the meeting by the house on sunday, just optic. obama coming back, just optics. >> well, like i said a couple of minutes ago, it's the relief rally versus the negative impact of the fiscal cliff. in other words, the recession their forces in the cliff, so, you picture two, like a sea change. the relief rally where it's going to happen, when we get a deal. then you have the recession their forces of the cliff right after that, so, you can see those two forces. i've been looking -- >> stocks can trade up during a recession. not when you're going into it. as you see going out of it. >> but it's still $130 billion of new taxes that are hitting the economy. maybe 150. i'm looking at two-month vices future versus the eight-month and i've been tracking it. track th
MSNBC
Dec 26, 2012 6:00pm PST
austerity way too quickly. president obama is not asking for that much in taxes. it's worth getting a bit of perspective in here. you'll be shocked to know, we got a graph for that. here's what happens if we go over the cliff. you get more than $5 trillion in tax increases off the bat. and now here's what happens if we pass the sainted simpson bowles plan. you've heard of the plan. they have 2.6 trillion in tax increases. president obama's latest offer to john boehner has 1.2 trillion in taxes. that is half as much, less than half than simpson bowles, and less than a quarter of what is in -- simply going over the fiscal cliff. i think the tax increases are too little. they are what they are. and it's something to remember as we reach the edge and you hear a lot of complaints about the tax side of obama's offer. what he's asking for in terms of tax increases is not that radical, it's way less than if we don't reach a deal. contrary to what you may have heard, republicans want to raise taxes too. shocker, right? >> the superficial take on this, the argument between democrats and republi
CNN
Dec 29, 2012 4:00am PST
this circumstance, you know, president obama actually extended these tax cuts with the intent that washington would take a more reasonable look at how we can phase in fiscal policy in a way that wouldn't do damage to the overall economy. and i think that's something we really have to be concerned about. you said earlier, you know, the average worker making 3,500 -- would see their taxes go up 3,500 should we go over the fiscal cliff. that's a significant impact to individual citizens. and so we should be very concerned about that and what that might mean to the broader economy, which some of us, i think, could put us in a mild recession next year. >> what is it with washington? what is it with our elected leaders they can't come up with a deal at this point? they have to wait to make it a cliff hanger. we saw this with the debt ceiling debacle last summer and now again. do they think this is a popular move? a good move? what's wrong with them? >> alison, you know, look, the real travesty of all of this is uncertainty. i know a number of your business guests will come on and say, lo
KICU
Dec 28, 2012 11:30pm PST
meeting with president obama good. taxes go up for all americans and traásic cuts will hit -- and drastic cuts will hit the national budget. >>> the dow fell 158 points, and the nasdaq fell 25 points. >> they may you know want to do something illegal just to put food on the table. >> coming up in 18 minutes finally strapped the hundreds of thousands of people set to feel the impact of the financial cliff starting tomorrow. >>> a sixth suspect has now been charged in connection with a beating and homicide in san francisco where the victims were bound and gagged. ktvu's david stevenson was in court today and tells us for the first time the district attorney talked about a possible motive. >> cameras were not allowed in this san francisco courtroom as prosecutorred announced a sixth suspect in a brutal beating and homicide in which two victims were left beaten and gagged. katherine uong described as a felon nicknamed killer is the first to be charged with the killing. an 18-year-old woman was found with reed also severely beaten she is now recovering. george gascon today signaled a m
FOX News
Dec 29, 2012 8:00pm PST
think barack obama did a great job in his first term? do you want significantly higher taxes? do you want the government to do nothing about spending? are you happy with obama care? most would say no. but in the end the choice was between a president who said things aren't great, but i'm going to still try to make them better, and a guy who he painted as not having a plan and not identifying with the average wants and needs of most middle class americans and in the end people decided to stick with the devil they knew rather than the one they didn't. >> so the republican defeat was big, but it wasn't overwhelming in the sense of a repute yags, in your view, of the republican platform or their agenda. >> no, and i think the reason -- look. this country did have the opportunity to once again hand controlled government to democrats. everyone in the house was up for re-election, and yet they continued to givene republicans the majority. they like divided government, and they have to look at the states who elected the very conservative governors who are doing the exact opposite of what
MSNBC
Dec 27, 2012 3:00pm PST
with the fact that president obama was reelected to raise taxes on the top 2% and speaker boehner and the republicans can't get their hands around their caucus, then the blame is on them. >> jarret, what do you think about all of this? you deal with the policy. you deal with the numbers. there has been some offers from the president, even to the chagrin of hi base. how do you make where we are? >> well, listening to the three of you and your introduction, i'm just struck a real low point in american politics over a period when there's been pretty good kovcompetition for the low of the low points. i'm also really kind of moved by the really political malpractice going on. we have an economic recovery on going. >> by the way, you don't really hear people talking about the unemployment rate. you're working to build on the momentum of this recovery. help them prove it so american households can get ahead on their own. through working hard. not through any tax breaks or anything like that. but through getting back to work and getting their paychecks back up. that's what they want to do
FOX Business
Dec 29, 2012 10:00am EST
government has done what it can do. many the private sector. that tax rate, you're not adding in the obama increase in petrol taxes. it's over 40 percent. that it's all businesses, subchapter s corporations, elsie's. the larger corporation, the corporate tax rate goes down. that makes them feel good. the businesses that will be hit by these tax increases are the very small and midsize businesses that create jobs same people that get hit with obamacare, the energy increases, and a labor cost increases. lou: what if i told you that it makes some sense. give him at the margin what he wants on taxes. whether that's on investment tax , camping deductions. basically what mitt romney was proposing. get that done. then say what you going to do? you going to still be left if you roll all of that up. you will still be left with a huge deficit. it's going to have to mean cutting the federal budget. >> even if we increase the tax rates, the top 1 percentn this country makes seven timbers of the income. 37 percent of the taxes. so a fair share argument really is it -- lou: you're getting a again start
FOX
Dec 28, 2012 10:00pm PST
and optimistic. >>> senator mitch mcconnel called the meeting with president obama good. taxes go up for all americans and traásic cuts will hit -- and drastic cuts will hit the national budget. >>> the dow fell 158 points, and the nasdaq fell 25 points. >> they may you know want to do something illegal just to put food on the table. >> coming up in 18 minutes finally strapped the hundreds of thousands of people set to feel the impact of the financial cliff starting tomorrow. >>> a sixth suspect has now been charged in connection with a beating and homicide in san francisco where the victims were bound and gagged. ktvu's david stevenson was in court today and tells us for the first time the district attorney talked about a possible motive. >> cameras were not allowed in this san francisco courtroom as prosecutorred announced a sixth suspect in a brutal beating and homicide in which two victims were left beaten and gagged. katherine uong described as a felon nicknamed killer is the first to be charged with the killing. an 18-year-old woman was found with reed also severely beaten she
MSNBC
Dec 29, 2012 12:00pm PST
taxes are only days away unless congress acts. one step forward, two steps back. president obama and republican lawmakers have been dancing that waltz for six weeks now, but the music stops when the countdown clock at the bottom of your screen runs out. so where do fiscal cliff talks stand at this critical hour? nbc's kristen welker is on the north lawn and luke russert are both following developments this saturday afternoon. kristen, i'll start with you. any indication at this particular point as to what's happening behind closed doors this afternoon? >> reporter: well, i think most of the action is going on in the hill where staffers with majority leader reid and minority leader mcconnell are trying to conjure up some last-minute deal and this plan would not be the grand bargain that john boehner started initially working on. that plan would have dealt with tax reform and deficit reduction and this will be a much more scaled back version that will deal with the issue of taxes and that is still the big sticking point, taxes. of course, democrats and president obama have called f
FOX News
Dec 26, 2012 6:00pm PST
obama got to go on vacation in hawaii. lucky him. >> and if the bush tax cuts expire and president obama says, hey, republicans, look at this, tax cuts for everyone making under 250, can republicans say no to a tax cut in 2015? >> it will be tough but not tougher than the pr battles he's fighting right now. i think he wants that scenario. i think obama thinks going off the click is a win for him. he can say i am bringing in revenue, i am lowering the deficit. and he can still blame the gop when their tacks go up. i don't think the grass pollen had the ball in this fight. i don't think they gave it up, i don't think they ever had it. it's tough for them to win against a white house like this and a white house press core that's not going to report anything negative against the president. >> there's a ball and the ball is the debt ceiling. all these things, i will get to craig, but have to go through the house. the money negotiations have to go through the house. if the house says no on raising the debt ceiling, they can create a lot of havoc. go ahead, greg. >> you know what? i don't
MSNBC
Dec 23, 2012 12:00pm PST
unfortunate. >> he is saying president obama is all about raising taxes and not about cutting spending. do you think that is true? do you think the president has brought up troupe spending cuts? >> i think the president has been absolutely willing to compromise. remember how this started. the president came forward and said $250,000 and below we would keep the tax cuts in place. he then compromised and went up to $400,000. he also put something on the table that gave a lot of people angst and that was the change around social security. so i think the president has been more than willing to compromise and you also have to keep in mind that last year wedid over a trillion dollars in cuts. i think where the compromise has to be is that speaker boehner has got to get off the notion that all republicans have to vote the same way. if he was willing to bring forward 40 or 50 members of his caucus and go with the deal pass td out of the seniate believe you could get the majority of democrats to go forward, as well. we really have to end the notion that every republican has to be on the same pa
ABC
Dec 29, 2012 11:00pm EST
will be in perfect. >> it comes up with president obama calls the bare minimum addressing tax cuts without doing anything to curb spending. >> we will get at best a patch and be here again in two months. congress cannot get out of its own way. >> average family would pay an extra $3,400 next year. >> the law says that every american's tax rates are going up. every american's paycheck will its mother. if that the impasse has shaken wall street, -- the impasse has shaken wall street. >> i think the likelihood is we go over the fiscal cliff. >> jim moran is wondering if partisan politics has destroyed the chance for any agreement. >> i don't think we will be up to reach a deal, no matter how small it might be. >> the american people are watching what we do. obviously, their patience is already thin. >> if senate leaders reached a deal, rank-and-file senators could vote by sunday, house member sunday night. right now there is not enough time left, they really need a deal tomorrow to beat the monday midnight deadline. richard reeve, abc 7 news. >> in addition to working on a deal on the
LINKTV
Dec 27, 2012 7:00pm PST
. budget cuts and tax hikes will tax place on january the 1st. >> president barack obama returned to washington deeply meyered in another partisan stalemate. but over in the capitol the lower house of congress remains dark to avert the fiscal cliff. it's republican leader will call the session on sunday. the top senate said his branch of congress must take the initiative on a compromise. >> it appears to me the action if there is any is now on the senate and we will have to see if we're able on a bipartisan to move forward. >> but the democrats say there can be no deal without republican concessions on tax increases. >> unless we get a sign-off from the republicans in the house, we can't get anything done. for them to talk about a bipartisan arrangement, we have done that. >> without a deal, the mediate effect would billion a tax hike. relief checks to $2 million -- 2 million onamericans would also cut, possibly triggers another major u.s. recession. >> things that you don't really need, you're not going to get. >> it will probably affect my finances in a huge way. >> it will affect
MSNBC
Dec 27, 2012 9:00pm PST
as we're arguing about raising taxes on rich peel. obama care does raise taxes on rich people to pay for health insurance for poor people. that is fact number one. number two, as you are ringing in the new year, think about the fact that health care for the poor will actually be improving this year. there are more than 50 million people on medicaid. medicaid is the main program used to give health care to the poor and to the children in this country. medicaid is super cheap. it is way, way cheaper than private insurance or medicare. and in part it is so cheap because it pays doctors a lot less than those programs do. that means a lot of doctors, particularly primary care doctors, don't want to participate in medicaid or they can't afford to. so a lot of folks on medicaid have trouble actually getting care. doctors who accept medicaid coverage are going to see a 73 -- primary care doctors i should say. a 73% raise in 2013. which means those folks will have more access to more doctors. so we're not just expanding health care for the poor in 2014. starting in 2013 we're making it better
CBS
Dec 23, 2012 6:30am EST
original thinker chief justice roberts for defining president obama's health care debate as a tax. some say it's a real leap his ipad. >> clarence? mark? >> the picture of obama and christie after the hurricane hit. that was the single best photo that changed the whole campaign. >> that was a killer for a while. >> scott van doozer. remember that name. he was a florida pizza shop owner who gave obama such a big hug that it took obama off the ground. >> i am going to elevate this conversation. the best photo op this year was the space shuttle discovery and the shuttle endeavor flying in their final flights on top of 747 airliners. remember that? >> oh, yeah. >> how uplifting that was. okay. enough already award pat. >> georgetown law student sandra fluke griping about the fact that she is not being given free birth control pills. >> what show was that on. >> rush mentioned that. but we don't want to get into that. >> i would dispute the characterization birth control pills are part of -- >> quickly. >> enough already, the billion spent on the attack ads. although i must admit they
FOX News
Dec 28, 2012 3:00am PST
several taxes tied to obama care will go in to effect including the medical device tax. healther found out it is about to impact every american. good to see you. >> that is right. this will pact every consumer. a new tax coming out. the tax will be put on devices that range from mri's to prosthetics and items in every doctor's office and veterinary offices. it will be passed alongg to consumers and manufacturers say it will result in job loss and stifle innovation and upon send jobs over seas. we went to one manufacturer. adm electronics that employs 19 people to ask them what it means for their industry. >> your company is about to be hit with a 2.3 percent tax on medical devices. >> it means more. it is on gross sales and that can hurt the number of people working for us and number of sales and increase the costs of our device. >> this is a family run business and been in business 40 years. how does it plea out for your company? >> we tried not to lose our employees because we are like family and the devastating impact we may not be able to sustain the number of employees. >> we migh
MSNBC
Dec 30, 2012 4:00am PST
declared he was modestly optimistic about a deal on taxes. speaking in the white house briefing room, president obama condemned congress for failing to resolve its differences in in normal way. he held firm to middle-class tax cuts to families making $250,000 per year. joining me now from the white house is nbc's kristen welker. kristen, let's take a look at what the president said about what he expects from the senate. >> i just had a good discussion from house leadership about how to prevent this on the middle class. i believe we can reach an agreement. if an agreement isn't reached in time between senator reid and sno senator mccollum, i will reach to him. i believe such a proposal could pass both houses with bipartisan majorities as long as the leaders allow it to actually come to a vote. if members of the house or the senate want to vote no, they can. but we should let everybody vote. >> kristen, this up or down vote seems to be the big news of the day. isn't this what the white house wanted all along? >> well, it is and it's president obama's way of saying, look, vote on h
NBC
Dec 28, 2012 4:00pm EST
cliff when tax heights and spending cuts kick in. president obama and congressional leaders are meeting at the white house right now trying to figure out a way to avoid it. negotiation have been under way for about an hour. steve handelsman joins us. so far no deal? >> i'm checking. so far the meeting continues, which could be a bad sign, can it? sources here on the hill say in today's meeting president obama planned to be kind of tough, figuring that he has gotten the advantage back to the extent anybody has the advantage this close to the cliff and that he'll push hi original demand, the tack rates rise on income over a quarter million dollars. it's a positive sign, the first meeting since mid-november of the four congressional leaders, democrats and republicans at the white house. called by president obama, house speaker jane boehner, the key figure. >> the fact that he's come back and the four of them are at the table means to me we could come up with some kind of agreement. >> reporter: both sides want a deal to avoid tax hikes that could cost middle-class families $2400. i
FOX News
Dec 27, 2012 8:00pm PST
republicans are more to blame for not going far enough on tax increases. 36% say that obama is more to blame for not agreeing to more spending cuts and 15% blame both sides. joining us now from new york, julie riganski, a democratic strategist and here in washington, steven moore, a member of the "wall street journal" editorial board. sesteven, let's start with you. great to hear harry reid on this. the last time i checked the do so called proposal that a he put forth in july didn't really receive any support and only dealt with tax increases. it wasn't a comprehensive deal and didn't involve real spending cuts it was just raise tax and it went no where. for him to blame republicans, come on. >> don't forget, it has been 13 hyundais since hair arery reid even passed a budget out of the united states senate. we don't even know what the united states senators stand for in terms of the budget debate. the same thing on taxes. the house actually passed a lot of people don't know that earlier this year the house passed a bill to extend all of the bush era tax cuts for another year until r
CNN
Dec 22, 2012 2:00pm PST
. so how far are we from a physicifiscal cliff deal? president obama and john boehner talked yesterday, their first conversation since monday when the two sides offered up concessions on tax hikes for the wealthy. boehner offered lower tax rates for people earning up to $1 million a year. the president offered lower tax rates for people earning up to $400,000 a year, plus tweaks for computing entitlement benefits, okay? well, today boehner was very firm. his message for president obama, the ball is in your court. >> the president and senate democrats have vowed to reject and veto all of our proposals while failing to offer responsible solutions of their own. what the president has offered so far simply won't do anything to solve our spending problem, and begin to address our nation's crippling debt. and he refuses to challenge the members of his party to deal honestly with the entitlement reform and big issues facing our nation. that's why we find ourselves here today. >> president obama did not mention fiscal cliff talks in his weekly address. the president's christmas break in hawaii
FOX News
Dec 29, 2012 3:00pm PST
democrats in the right direction with respect to tax. president obama has shown no leadership on this. what they really need to do is minimize the damage from what president obama is trying to push for the higher tax cuts because they're going to need public opinion on their side in the new year to really make entitlement reform because at the end of the day, we're ohm talk being tax. we know $16 trillion in debt. the real problem right now is entitlement spending because at 62 to 65% of the federal budget. we've got this problem ballooning by the hour w. got to do something about it. right now i think house republicans are going to have to take it on the chin and get the deal because we need public opinion on our side. >> heather: alexis, will they get it done? >> i hope so. i think the lack of leadership has been on the house side. speaker boehner couldn't even get his own bill passed. so he's been fumbling the ball. i think what the president is doing with the up or down vote is trying to bring oversight to the american people in the spirit of the holidays, he's trying to let
FOX Business
Dec 23, 2012 9:00am EST
bottom line terribly. >> david obama care was not designed to save money. it need said a huge tax increase to fund it it is it a path of socialized medicine and all of the destruction and that is why unions and companis and employees are trying to optout of it it was a lousy piece of. that is truven to be terrible. that's what obama care is about. rick's good friend to bey cross grove was saying in the wall street journal. probably what it will lead to is a singer payer rule of socialized medicine. >> absolutely. i don't doubt it >> rich? >> i don't doubt that for a minute. obama care is doing and paralyzing growth among small businesses. you will see all kinds of businesses finding out magically 49 employees rather than 50 is the number of full-time people they want and the rest work 28 hours and the other aspect, large companies are going to make working and onerous and they're monitoring all of your health care. it is not if you smoke it is your weight and glucose and your blood pressure. this is it going to be the cost of working at a large company as they try to drive down th
NBC
Dec 28, 2012 4:00am EST
>>> "d" day for president obama and congressional leaders. automatic tax hikes and smaller paychecks hang in the balance. >>> an american military here row the four-star general known as stormin' norman schwarzkopf has died. >>> 16 deaths blamed on the most recent winter storm with another one on the way. >>> a fiscal milk cliff could be humaning. thieves clean out a walmart, including guns, and bears over the bruins in the holiday bowl. "early today" starts right now. >> announcer: this is "early today" for friday, december 28th, 2012. >>> good morning, i'm mara schiavocampo. even as the finger pointing continues on capitol hill this morning there is new hope for a deal to avoid that pass cal cliff. president obama will be meeting with congressional leaders later today. nbc's danielle leigh joins us live with the latest on capitol hill. danielle what is the datest in terms of what we can expect in the next coming days and the likelihood that they can reach a deal? >> reporter: mara, good morning. well, this meeting that is the last meeting at the white house is going to be
CNBC
Dec 28, 2012 7:00pm EST
they would blame the absence of spending cuts on president obama and they know the taxes will go up anyway regardless of what they do if they don't pass anything and they would make the argument they would limit the tax cut and speaker boehner has made the same argument. >> thank you so much. we want to show people what is going on with the after markets because even though john says people are optimistic the markets are not optimistic. right now if the dow jones industrial average were to open at this moment it would be down 315 points. that's a reflection of the futures trading that happens in the after-hours. we'll see how asia opens on monday and right now the markets do not like what they see. they are not optimistic at this point and maybe if a mini deal gets done, a mini deal is not enough to deal with what the country faces. after all of this time the president still wants congress to come up with a plan instead of assuming the leadership mantle himself. let's talk to a member of congress about that. james langford serves in the house budget committee and he joins me now. si
CNBC
Dec 26, 2012 2:00pm EST
of others who will weigh in. >>> don't look now but obama care taxes may just be getting started. will congress take aim at employer-sponsored health insurance? we will look at that and aetna's ceo will weigh in. >>> it's getting messy with this storm making its way across the country. now it's on the east coast. we have the latest on the nor'easter and how it could affect your money. mandy is kind of to stick around, stay late for us. she'll be with me at the top of the hour. see you guys then. >> you twisted my arm. >>> meantime, some signs of life in the housing market. the s & p home price index rose 4.3% year over year, the biggest increase in two and a half years. the index was down .1% month over month but that is likely seasonal so let's ignore it. all in all, no doubt housing making a big recovery in much of america. >>> what can we expect from the housing market in 2013 is the question. we've got the chief economist with good news but also a couple of warnings. i really don't like to start on bad news. give us the good news first. >> thanks, mandy. here's the good news
CNN
Dec 22, 2012 11:00am PST
, lawmakers and president obama have left washington for christmas with no deal on tax hikes and spending cuts set to go in effect after the first of the year. brianna keilar is live in hawaii where the president is spending the christmas holiday. brianna, the president maybe a little too optimistic that a deal can be reached? aloha, by the way. >> he did say last night that he is a hopeless optimist that something can get done, but what we know, it's not going to be that big package, obviously of deficit reduction as well as dealing with these tax hikes that are set to kick in. that's not what's going to be happening, instead, he's pressing for something smaller just to a deal with stopping those tax hikes from kicking in for americans making $250,000 per year or less. and also trying to make sure that unemployment benefits are extended. listen to what president obama said last night and also listen to what some of the house republican resistance from speaker boehner to his sort of short-term plan here. >> in the next few days, i've asked leaders of congress to work towards a package tha
CBS
Dec 30, 2012 6:30am EST
. >> obama care, about changing the tax code. people didn't like to hear that. >> mitt romney almost won. if he had shown up in new jersey, he probably would have had a better shot. >> mitt romney who he said those who don't care about students who are in a country illegally have no heart, it almost killed his campaign. >> most dishonest, john boehner, republican speaker of the house. saying quote unquote, let's be honest, we're broke. we'll be right back with new years resolutions. ♪ [ music ] >>> new years resolutions, pat. >> get at list one book on nixon done this year. >> another one? >> one. >> can get cracking on my memoir, and also continue to jog so i can continue to stay healthy and continue to do combat. >> ensure that everything i put on twitter is completely accurate. >> are you going to do a memoir? >> no. >> really? >> write a book that responds to pat buchanan's last book. >> my new year's resolution is to not have such a heavy foot when i accelerate vehicles. we try to give it to you straight. celebrate the new year. bye bye. ♪ [ music ]
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